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NEW YORK (AP) — Gains for banks and energy stocks are leading indexes higher in early trading on Wall Street. Heavy equipment maker Caterpillar jumped 3 percent today after turning in a strong quarter, and mining company Freeport-McMoRan jumped 10 percent after reporting revenue that was higher than analysts were expecting. At 10:32 a.m. Eastern Time, the S&P 500 rose 8 points, to 2,478. The Dow was up 95 points to 21,610. And the Nasdaq was down a fraction of a point at 6,410.
WASHINGTON (AP) — U.S. home prices reached a new high in May for the sixth straight month, raising fears of another housing bubble roughly a decade after a previous one burst. The Standard & Poor's CoreLogic national home price index increased 5.6 percent in May, the latest data available. It is now 3.2 percent higher than its July 2006 peak.
FRANKFURT, Germany (AP) —BMW says it will manufacture the electric version of its Mini compacts at its factory in Oxford, England. The production decision comes at a time when automakers are scrutinizing investment plans due to Britain's impending departure from the European Union. BMW AG says the electric Mini would be based on the three-door model. Most of those are already made at the Oxford plant. The electric drive train is to be made in Germany.
SAN DIEGO (AP) — The fact-checking website Snopes.com is trying to raise $500,000 through Go Fund Me as it fights an outside vendor it accused of holding its site hostage. Snopes says that Proper Media cut it off from advertising income, will not return control of the site, is inserting its own ads on it and is withholding advertising revenue. A lawyer for Proper Media tells The New York Times that Snopes founder David Mikkelson didn't properly cancel its contract and that Mikkelson retains control of the Snopes.com domain name.
RIVER FALLS, Wis. (AP) — A Wisconsin company is offering to microchip its employees. Three Square Market, also known as 32M, says it expects about 50 employees to take advantage of the technology, which will enable them to open doors, log onto their computers and purchase break room snacks with a simple swipe of the hand. The chips are the size of a grain of rice and will be implanted underneath the skin between the thumb and forefinger.
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